Australia's Maronan Metals falls on discounted placement

Maronan Metals

13/10/2026 03:19

** Shares of Maronan Metals MMA.AX fall 3.6% to A$0.405, on track for their worst day since September 16, if moves hold
** Mineral explorer announces A$20 million ($13.91 million) placement at A$0.40 apiece
** Issue price represents a discount of 4.8% to stock's last close
** About 381,037 shares change hands, 1.8x the 30-day average of 209,125
** Stock down 3.6% YTD, including moves in the current session
     
     
($1 = 1.4380 Australian dollars)

(Reporting by Jasmeen Ara Shaikh in Bengaluru)
((Jasmeenaraislam.Shaikh@thomsonreuters.com;))